The Ottumwa Courier

Ottumwa

January 23, 2014

Real estate market creating sense of optimism

(Continued)

So, what does that mean? Basically, according to Thostenson, the rebound of the economy and several other factors have led to a rebound in the real estate market, and home buyers are more willing to pay for more expensive homes as well as homes in the lower-end market.

That willingness to pay top dollar for a home has created a sense of optimism around the real estate market, and made 2013 a year to remember for those in the business.

Generally, Thostenson said, there is a dip in activity during the late summer and early fall most years, but last year the market stayed strong.

“Typically things slow down in August and September, but we didn’t see that last year,” he said. “The market was strong throughout 2013.”

Thostenson also said that he expects the feeling of optimism in the real estate market to keep going through 2014, and that when the sales of homes stay strong, other industries, like furniture makers, are positively affected as a result.

“There’s a more favorable feeling where the market is at,” he said. “If home building and sales stay strong, it leads to a strong feeling in other industries also. There are challenges, but we learn to work through them.”

It appears that the sting of the 2008 recession has finally healed, at least in the real estate market in southeastern Iowa, and most experts in the area have a feeling of optimism going into the future.

— To see reporter Josh Vardaman's Twitter feed, go to @CourierJosh

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